The rupee moved with little changes against the dollar on the money market on Monday in the process of trading, dealers said. The rupee shed three paisa in relation to the dollar for buying and selling at Rs 105.45 and Rs 105.49, they said.
The rupee gained 10 paisa versus the euro for buying and selling at Rs 115.50 and Rs 116.50, they added. In the first Asian trade, the US dollar edged down, as investors' appetite for risk evaporated against a background of downbeat Chinese factory surveys.
The Australian dollar, a proxy for China plays because of that country's massive trade exposure to China, touched its session high of $0.7148 immediately after the release of the Caixin-Markit China Manufacturing Purchasing Managers' Index (PMI).
The index edged up to 48.3 in October from 47.2 in September and showed that export orders marked their first rise since June. The dollar was trading against the Indian rupee at Rs 65.51, the greenback was at 4.2900 versus the Malaysian ringgit and the US currency was at 6.336 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 78.07-78.10 (previous 78.05-78.05).
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Open Bid Rs.105.50
Open Offer Rs.105.70
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Bid Rate Rs.105.45
Offer Rate Rs.105.49
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The rupee also remained under pressure and kept on declining against the pound sterling during the entire day's trading. The pound's buying and selling rate improved from the last Friday closing of Rs 161.00 and Rs 161.70 to Rs 162.00 and Rs 162.80, respectively, the dealers said.